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Sanjeev Jain, the Managing Director and CEO of Parsvnath Landmark Developers, a subsidiary of Parsvnath Developers, was arrested by the Delhi Police on Saturday after a 60-kilometer chase that ended at the Indira Gandhi International Airport.
The Special Task Force (STF) team of Shahdara made the arrest following non-bailable warrants issued against Jain for his failure to appear before the National Consumer Disputes Redressal Commission. The warrants were issued in connection with a case filed by complainant Rajat Babbar.
At the Shahdara Police Station, Jain had at least four non-bailable warrants and one bailable warrant pending. He was produced before the National Consumer Disputes Redressal Commission on Sunday.
- Sanjeev Jain, Managing Director and CEO of Parsvnath Landmark Developers, a subsidiary of Parsvnath Developers
- A resident of DLF Phase 2, Gurugram
- Associated with Parsvnath Developers for over 32 years
- Bachelor’s degree in civil engineering from Bharti Vidyapeeth, Pune
- Completed schooling at Jain Khekra Inter College in Khekra, Uttar Pradesh
Parsvnath Developers, founded in 1984, operates in 37 cities across 13 states in India. The arrest of its CEO, Sanjeev Jain, highlights the ongoing legal battles real estate companies face and the importance of adhering to consumer protection laws.
Case Filed by Rajat Babbar
The case filed by Rajat Babbar against Sanjeev Jain, the CEO of Parsvnath Developers, pertains to a dispute that escalated to the issuance of multiple non-bailable warrants due to Jain’s failure to appear before the National Consumer Disputes Redressal Commission (NCDRC).
The specific details of the complaint involve allegations related to consumer rights violations, which Parsvnath Developers formally contested. The case reflects ongoing legal challenges faced by the company, particularly concerning customer grievances and compliance with consumer protection laws.
As of now, Jain has at least four non-bailable warrants and one bailable warrant pending. Which led to his recent arrest by the Delhi Police after a significant chase. This situation underscores the importance of accountability in the real estate sector and the legal ramifications for executives who do not adhere to judicial mandates.
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